{"id":31702,"date":"2017-11-13T16:36:14","date_gmt":"2017-11-13T11:06:14","guid":{"rendered":"https:\/\/apnlive.com\/?p=31702"},"modified":"2017-11-13T16:37:57","modified_gmt":"2017-11-13T11:07:57","slug":"vodafone-idea-sell-standalone-tower-assets-atc-merger-expected-2018","status":"publish","type":"post","link":"https:\/\/apnlive.com\/business-news\/vodafone-idea-sell-standalone-tower-assets-atc-merger-expected-2018\/","title":{"rendered":"Vodafone, Idea to sell standalone tower assets to ATC; merger expected by 2018"},"content":{"rendered":"<p>[vc_row][vc_column][vc_column_text]<i><span style=\"font-weight: 400;\">Post merger the companies will share almost 400 million customers, with 35% customer and 41% revenue market share.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Telecom giants Vodafone India Ltd and Idea Cellular Ltd have separately agreed to sell their standalone tower businesses. In a joint statement released on Monday, the companies confirmed that they have made a deal with the buyer \u2013 ATC Telecom Infrastructure Pvt Ltd \u2013 for about $1.2 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The joint statement by the companies further mentioned that their tower businesses \u2013 which are pan-Indian passive telecommunication infrastructure businesses \u2013 comprises of about 20,000 towers (combined) with a combined tenancy ratio of 1.65x, as recorded till June 30.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBoth Vodafone India and Idea as customers, and ATC TIPL as a mobile network infrastructure provider, have agreed to treat each other as long-term preferred partners, subject to existing arrangements. The parties will work together to further the expansion of high speed mobile networks in India,\u201d the statement mentioned.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During an exchange filing on Monday, the Idea Cellular said, \u201cThe sale of the company\u2019s standalone business will be achieved through the sale of the entire shareholding of ICISL (Idea Cellular Infrastructure Services Ltd) by the company comprising 60,000 equity shares of Rs10 each to the purchaser.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, with an aim to dominate the telecom market \u2013 which witnessed major disruptions after <a href=\"https:\/\/apnlive.com\/topic\/mukesh-ambani\"><strong>Mukesh Ambani<\/strong><\/a> new venture, Reliance Jio Infocomm Ltd came up with lucrative plans with free voice calls and low data prices \u2013 Idea and Vodafone have agreed on getting merged. However, the merger \u2013 which will form the country\u2019s largest telecom company in a $23 billion deal \u2013 excludes Vodafone\u2019s 42% stake in Indus Towers ltd.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Being the world\u2019s second largest merger, Idea and Vodafone together will now overtake Bharti Airtel Ltd. Together the companies will share almost 400 million customers, with 35% customer and 41% revenue market share.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite having a combined debt of Rs 1.08 trillion, the merger \u2013 which is expected to be completed by 2018 \u2013 will help Idea and <a href=\"https:\/\/apnlive.com\/topic\/vodafone\"><strong>Vodafone<\/strong><\/a> have revenue of Rs 81,600 crore and an operating profit of Rs 24,400 crore.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the joint statement released on Monday, the companies said, \u201cAfter Vodafone India and Idea have completed their merger, 6,300 co-located tenancies of the two operators on the combined standalone tower businesses will collapse into single tenancies over a period of two years without the payment of exit penalties.\u201d<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Post merger the companies will share almost 400 million customers, with 35% customer and 41% revenue market share. Telecom giants Vodafone India Ltd and Idea Cellular Ltd have separately agreed to sell their standalone tower businesses. In a joint statement released on Monday, the companies confirmed that they have made a deal with the buyer [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":31706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1518],"tags":[2457,1698,2456],"yst_prominent_words":[30152,30146,30154,30148,30163,30151,30145,30160,30153,10493,30156,30147,30162,30149,30155,30161,30157,30150,30158,30159],"ppma_author":[140543],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/d2r2ijn7njrktv.cloudfront.net\/apnlive\/uploads\/2017\/11\/Vodafone_Idea.jpg","jetpack_sharing_enabled":true,"authors":[{"term_id":140543,"user_id":4,"is_guest":0,"slug":"apnnewsdesk","display_name":"APN Live","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/478eacb893eda88aa6ed8d99b005bf58?s=96&r=g"}],"_links":{"self":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/31702"}],"collection":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/comments?post=31702"}],"version-history":[{"count":0,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/31702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media\/31706"}],"wp:attachment":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media?parent=31702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/categories?post=31702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/tags?post=31702"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=31702"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/ppma_author?post=31702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- html is corrupted -->